Geode Capital Management LLC Acquires 622,003 Shares of Wheaton Precious Metals Corp. $WPM

Geode Capital Management LLC grew its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 20.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,653,717 shares of the company’s stock after acquiring an additional 622,003 shares during the period. Geode Capital Management LLC’s holdings in Wheaton Precious Metals were worth $332,793,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Canada Pension Plan Investment Board increased its stake in shares of Wheaton Precious Metals by 57.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 2,097,735 shares of the company’s stock worth $162,811,000 after purchasing an additional 766,947 shares in the last quarter. Amundi increased its position in Wheaton Precious Metals by 33.2% in the first quarter. Amundi now owns 2,745,947 shares of the company’s stock worth $215,557,000 after buying an additional 683,674 shares in the last quarter. Bank of Montreal Can increased its holdings in Wheaton Precious Metals by 10.3% in the 2nd quarter. Bank of Montreal Can now owns 5,120,087 shares of the company’s stock worth $460,736,000 after acquiring an additional 478,236 shares in the last quarter. Nuveen LLC purchased a new position in Wheaton Precious Metals during the first quarter valued at approximately $36,885,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Wheaton Precious Metals by 10.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,072,786 shares of the company’s stock valued at $393,800,000 after purchasing an additional 470,651 shares in the last quarter. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on WPM shares. Berenberg Bank increased their price objective on shares of Wheaton Precious Metals from $102.00 to $108.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. UBS Group lifted their target price on Wheaton Precious Metals from $118.00 to $122.00 and gave the company a “neutral” rating in a research note on Thursday, October 16th. Scotiabank reissued an “outperform” rating on shares of Wheaton Precious Metals in a report on Thursday, October 23rd. BMO Capital Markets restated an “outperform” rating on shares of Wheaton Precious Metals in a research note on Friday, August 8th. Finally, Bank of America lifted their price objective on shares of Wheaton Precious Metals from $127.00 to $132.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $124.50.

Wheaton Precious Metals Stock Down 1.5%

Shares of NYSE:WPM opened at $104.15 on Friday. Wheaton Precious Metals Corp. has a 52 week low of $55.47 and a 52 week high of $114.36. The firm has a fifty day simple moving average of $104.27 and a two-hundred day simple moving average of $95.41. The stock has a market capitalization of $47.29 billion, a P/E ratio of 60.20, a PEG ratio of 1.67 and a beta of 0.38.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.03. Wheaton Precious Metals had a return on equity of 11.96% and a net margin of 47.46%.The company had revenue of $476.26 million for the quarter, compared to analysts’ expectations of $495.53 million. During the same period in the previous year, the firm posted $0.34 earnings per share. The firm’s revenue for the quarter was up 54.5% on a year-over-year basis. On average, analysts expect that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Thursday, November 20th will be given a dividend of $0.165 per share. The ex-dividend date is Thursday, November 20th. This represents a $0.66 dividend on an annualized basis and a yield of 0.6%. Wheaton Precious Metals’s payout ratio is 30.00%.

About Wheaton Precious Metals

Wheaton Precious Metals Corp. primarily sells precious metals in North America, Europe, and South America. It produces and sells gold, silver, palladium, and cobalt deposits. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp. in May 2017. Wheaton Precious Metals Corp.